SUMMARY
Delhivery had reported a net loss of INR 195.6 Cr in Q3 FY23 and a loss of INR 102.9 Cr in Q2 FY24
Operating revenue grew to INR 2,194.5 Cr in Q3 FY24 from INR 1,823.8 Cr in the year-ago quarter
Revenue from express parcel services grew 21% YoY to INR 1,448 Cr in Q3 FY24
Logistics unicorn Delhivery turned profitable in the quarter ended December 2023, posting a consolidated profit after tax (PAT) of INR 11.7 Cr. In contrast, the startup had reported a net loss of INR 195.6 Cr in the year-ago quarter while its net loss stood at INR 102.9 Cr in the preceding September quarter of 2023.
Operating revenue grew to INR 2,194.5 Cr in Q3 FY24 from INR 1,823.8 Cr in the year-ago quarter. It stood at INR 1,941.7 Cr in Q2 FY24.
Express parcel shipments grew 18% year-on-year during the quarter under review, with shipment volume rising to 201 Mn from 170 Mn Q3 FY23. Revenue from express parcel services grew 21% to INR 1,448 Cr in Q3 FY24 from INR 1,200 Cr in Q3 FY23, the company said in a statement.
“We are satisfied that network quality remained robust even through the peak season. The highest ever quarterly EBITDA demonstrates the underlying strength and operating leverage in our business model. We have established adequate infrastructure and capacity for continued growth in FY25”, Delhivery MD and CEO Sahil Barua said on the results.
(This is a breaking story, will be updated soon.)
